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136 STAT. 1958 PUBLIC LAW 117–169—AUG. 16, 2022 ‘‘(i) the lesser of— ‘‘(I) the modified adjusted gross income of the taxpayer for such taxable year, or ‘‘(II) the modified adjusted gross income of the taxpayer for the preceding taxable year, exceeds ‘‘(ii) the threshold amount. ‘‘(B) THRESHOLD AMOUNT.—For purposes of subpara- graph (A)(ii), the threshold amount shall be— ‘‘(i) in the case of a joint return or a surviving spouse (as defined in section 2(a)), $300,000, ‘‘(ii) in the case of a head of household (as defined in section 2(b)), $225,000, and ‘‘(iii) in the case of a taxpayer not described in clause (i) or (ii), $150,000. ‘‘(C) MODIFIED ADJUSTED GROSS INCOME.—For purposes of this paragraph, the term ‘modified adjusted gross income’ means adjusted gross income increased by any amount excluded from gross income under section 911, 931, or 933. ‘‘(11) MANUFACTURER’S SUGGESTED RETAIL PRICE LIMITA- TION.— ‘‘(A) IN GENERAL.—No credit shall be allowed under subsection (a) for a vehicle with a manufacturer’s suggested retail price in excess of the applicable limitation. ‘‘(B) APPLICABLE LIMITATION.—For purposes of subpara- graph (A), the applicable limitation for each vehicle classi- fication is as follows: ‘‘(i) VANS.—In the case of a van, $80,000. ‘‘(ii) SPORT UTILITY VEHICLES.—In the case of a sport utility vehicle, $80,000. ‘‘(iii) PICKUP TRUCKS.—In the case of a pickup truck, $80,000. ‘‘(iv) OTHER.—In the case of any other vehicle, $55,000. ‘‘(C) REGULATIONS AND GUIDANCE.—For purposes of this paragraph, the Secretary shall prescribe such regula- tions or other guidance as the Secretary determines nec- essary for determining vehicle classifications using criteria similar to that employed by the Environmental Protection Agency and the Department of the Energy to determine size and class of vehicles.’’. (g) TRANSFER OF CREDIT.— (1) IN GENERAL.—Section 30D is amended by striking sub- section (g) and inserting the following: ‘‘(g) TRANSFER OF CREDIT.— ‘‘(1) IN GENERAL.—Subject to such regulations or other guid- ance as the Secretary determines necessary, if the taxpayer who acquires a new clean vehicle elects the application of this subsection with respect to such vehicle, the credit which would (but for this subsection) be allowed to such taxpayer with respect to such vehicle shall be allowed to the eligible entity specified in such election (and not to such taxpayer). ‘‘(2) ELIGIBLE ENTITY.—For purposes of this subsection, the term ‘eligible entity’ means, with respect to the vehicle for which the credit is allowed under subsection (a), the dealer which sold such vehicle to the taxpayer and has— Definition. Determination. 26 USC 30D. Determination. Definition. VerDate Sep 11 2014 15:35 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00142 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw